It’s unlikely people who bought homes in leafy Glen Eden at any time over the past 30 years or so would have thought for a moment that their properties would be so desirable two decades into the 21st century.
However, it’s no secret now that Auckland is short of quality housing for a burgeoning population and this particular West Auckland suburb is now part of a high density zone.
This means developers are happily paying a premium for large sites with building potential, but they don’t always come along in such a tidy package as this one, which comprises 3232sqm in total, when including all four lots at 1/40, 2/40, 40a and 42 Savoy Road.
Post 2016 changes to Auckland’s Unitary Plan, which were based around building more townhouses and apartments around public transport hubs and these sections are zoned Terrace Housing and Apartment Building.
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Aman Gulia, of Team Aman and Joe, Harcourts, Mount Albert, says that between 25 and 30 multi-storey townhouses could possibly be constructed across this potentially merged site, which is situated in a prime part of the neighbourhood, close to Glen Eden village and the train station.
“We are selling a lot of these combined properties when neighbours have got together with each other to sell, having seen keen developers buying up large in their neighbourhoods.”
Gulia has recently sold an even larger, 6500sqm plot in Henderson, which took time to co-ordinate, with eight properties in the mix but sold for an eye-watering $10 million, ensuring a windfall for the home owners.
“The deal was growing in size, constantly with more neighbours wanting to get involved,” he told OneRoof explaining that the size of each individual section is the key for ascertaining how much each owner receives for their property.
Gulia says that the sections in Savoy Road are elevated, with great views, which makes them especially desirable, and with a storm water connection nearby and road frontage there’s a lot on offer here.
The four properties are available for sale by negotiation, which means developers can take their time and do due diligence without having to front up to auctions, where sale prices can potentially go into the stratosphere.
1/40 Savoy Road has three bedrooms, one bathroom and a double garage.
2/40 Savoy Road has three bedrooms, one bathrooms and a single garage.
40A Savoy Road has four bedrooms, two bathrooms a triple garage.
42 Savoy Road has three bedrooms, one bathroom and a double garage.
- Article sponsored by Harcourts
